lawyersweekly.com.au

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Australian Funding Partners (AFPL) has declared bankruptcy and gone into administration after being fined $11.7 million. AFPL was the funder behind the Banksia Securities class in which an Australian Supreme Court judge found that AFPL, as well as five lawyers, engaged in “egregious conduct in connection with a fraudulent scheme” whereby they intended to claim over $19 million in legal costs and funding commission from the Banksia settlement.

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